Zcoin, an open source, decentralized privacy coin enabled by the Zercoin protocol announced today implementation of the Exodus protocol to facilitate the exchange of smart assets and allows for customized tokens or smart programmable money to be built on the Zcoin blockchain. The Exodus protocol is a fork of the Omni protocol that facilitates the use of smart contracts, custom currencies/tokens and even decentralized exchange functions.
“The implementation of Exodus protocol is an exciting move for Zcoin as it expands the utility and functionality of Zcoin’s blockchain without affecting its core functions as a digital currency,” said Poramin Insom Founder of Zcoin.
Zcoin ensures private financial transactions using zero-knowledge cryptographic proofs. To protect the anonymity of transactions, users are able to destroy their Zcoins and mint new ‘clean’ coins with no transaction history tied to it.
“We wanted to give people the option to build on a blockchain secured by a different proof-of-work algorithm that is ASIC resistant such as our upcoming MTP algorithm. Furthermore, Omni is a tried and tested platform,” said Insom
With Exodus protocol users are able to use distributed exchanges to exchange their customized tokens directly on the Zcoin blockchain without the need for a third party exchange.
Decentralized crowdfunding or ICO can also take place on the Zcoin blockchain without the need of a third party.
“We’ve received several requests from our community to launch a tokenization layer so that they can build smart assets off the Zcoin blockchain so our team are pleased to be implementing the Exodus protocol and hope to see some interesting use cases soon,” said Reuben Yap COO of Zcoin.
Zcoin has a strong presence in Southeast Asia and the Exodus protocol is a competitive option for users in the region who want to build on an alternative blockchain than Bitcoin or Ethereum.